Daily GK Update- 29th May, 2022

 

NATIONAL UPDATES:

 

1. Bharat Drone Mahotsav 2022: PM Modi inaugurated India’s biggest drone festival: Prime Minister Narendra Modi has inaugurated India’s biggest drone festival here and interacted with Kisan drone pilots as well as witnessed open-air drone demonstrations. ‘Bharat Drone Mahotsav 2022’ is set to be a two-day event being held on May 27 and 28. The prime minister will interact with Kisan drone pilots, witness open-air drone demonstrations and interact with startups in the drone exhibition centre. About the Bharat Drone Mahotsav 2022:

a)      According to the Prime Minister’s Office, more than 1600 delegates, consisting of government officials, armed forces, central armed police forces, Public Sector Units (PSUs), foreign diplomats, private companies as well as drone startups, etc., will participate in the Bharat Drone Mahotsav 2022.

b)      The PMO mentioned that more than 70 exhibitors will display various use cases of drones at the Drone Festival. The Bharat Drone Mahotsav 2022 will also witness a virtual award of drone pilot certificates, panel discussions, product launches, a display of a ‘Made in India’ Drone Taxi prototype, and flying demonstrations, among others, the Prime Minister’s Office further added.

 

2. Rajnath Singh approves new Defence Estates Circle for Uttarakhand: Union Defence Minister Rajnath Singh has approved the proposal for the creation of a new Defence Estates Circle exclusively for Uttarakhand. In view of the difficulties faced in managing large tracts of defence land in the state and the demand of cantonment residents in Uttrakhand, the MoD will establish an independent office of Defence Estates at Dehradun and a sub-office at Ranikhet. About the Defence Estates Circle:

a)      The creation of a new Defence Estates Circle at Dehradun exclusively for Uttarakhand will facilitate the residents/ organisations in getting timely and quick access to various services of defence land management.

b)      In order to further decentralize the governance structure, Raksha Mantri has also approved the establishment of a sub-office at Ranikhet under the administrative jurisdiction of Defence Estates Dehradun to deal exclusively with six districts of the Kumaon region of the state.

c)       Earlier, the entire defence land and cantonments in Uttrakhand were covered under two distinct Defence Estates Circles headquartered at Meerut and Bareilly in Uttar Pradesh.

 

3. Jitendra Singh inaugurates India’s first ‘Lavendar Festival’ in Bhaderwah: Union Minister Dr Jitendra Singh has inaugurated the country’s first ‘Lavendar festival’ at Jammu’s Bhaderwah where the cultivation of lavender has transformed the economy of the mountainous area. Bhaderwah in the Doda district is the birthplace of India’s purple revolution. The minister described Bhaderwah in the Doda district as the birthplace of India’s purple revolution. Key points:

a)      Lavender has changed the fortunes of farmers in Jammu and Kashmir under the ‘Aroma Mission or Purple Revolution’, an initiative of the Central government towards transforming the lives of UT’s farmers’ community.

b)      The Purple or Lavender Revolution was launched in 2016 by the Union Ministry of Science & Technology through the Council of Scientific & Industrial Research’s (CSIR) Aroma Mission.

c)       The aim of the mission is to support the domestic aromatic crop-based agroeconomy by moving from imported aromatic oils to homegrown varieties. Lavender cultivation is practised in almost all 20 districts of Jammu and Kashmir.

Under the mission:

a)      First-time farmers were given free lavender saplings while those who had cultivated lavender before were charged Rs. 5-6 per sapling. The mission promotes the cultivation of aromatic crops for essential oils that are in great demand by the aroma industry.

b)      In J&K, the Council of Scientific and Industrial Research (CSIR) and the Indian Institute of Integrative Medicine, Jammu (IIIM Jammu) are the two bodies responsible for taking the Aroma Mission forward.

c)       The CSIR Aroma Mission is envisaged to bring transformative change in the aroma sector through desired interventions in the areas of agriculture, processing, and product development for fuelling the growth of the aroma industry and rural employment.

d)      More than 800 progressive farmers of Doda have adopted aromatic cultivation which is now proved to be profitable. The mission was aimed to increase lavender cultivation to 1,500 hectares by 2024.

 

INTERNATIONAL UPDATES:

 

1. UNICEF-WHO release the first Global Report on Assistive Technology: The World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF) have released the first Global Report on Assistive Technology (GReAT). The paper, which was created in conjunction with UNICEF’s Office of Research – Innocenti, includes 10 important actionable suggestions for enhancing access to assistive technology for all children, as well as evidence-based best practise examples. Key Points:

a)      Through a network of academic institutions, researchers, policymakers, donors, and practitioners, UNICEF Office of Research – Innocenti is at the forefront of the establishment of a Global Research Agenda and Platform for Children to amplify the voice of children and youth with disabilities.

b)      With the help of UNICEF‘s Office of Research – Innocenti, UNICEF and WHO created a series of 11 free-access background papers to accompany the Report.

c)       Around the world, 2.5 billion people require assistive technology. According to the estimate, by 2050, the population will have grown to 3.5 billion people.

d)      The gaps between low- and middle-income countries and high-income countries in terms of access to assistive technology are disturbing.

e)      Access to assistive technology for individuals who need it is as low as 3% in some low- and middle-income nations, whereas it is significantly higher in high-income countries, with up to 90% of people receiving the assistive devices and services they require.

f)        The worldwide impact of the WHO-UNICEF Global Report on Assistive Technology in this scenario will be unprecedented. Enabling settings and Assistive Technology are recognised in the Global Report as prerequisites for people in need to realise their human rights.

Note: World Health Organization (WHO) headquarters: Geneva, Switzerland

United Nations Children’s Fund (UNICEF) headquarters: New York, United States

 

2. Indian officer Anwar Hussain Shaik is new chair of WTO committee: An Indian Government Officer, Anwar Hussain Shaik has been made the chair of the World Trade Organisation’s Committee on Technical Barriers on Trade. Mr. Shaik will take this role from Elisa Maria Olmeda de Alejandro from Mexico. WTO is a 164-member multilateral body which formulates rules for global exports and imports and adjudicates disputes between countries on trade-related issues. India is a member since 1995.

Technical Barriers to Trade (TBT) Agreement: The Technical Barriers to Trade (TBT) Agreement aims to ensure that technical regulations, standards and conformity assessment procedures are non-discriminatory and do not create unnecessary obstacles to trade. TBT Committee work involves two broad areas, review of specific measures and strengthening implementation of the TBT Agreement. WTO members use this committee to discuss specific trade concerns, specific laws, regulations or procedures that affect their trade, usually in response to notifications.

Note: WTO Headquarters: Geneva, Switzerland; WTO Purpose: Reduction of tariffs and other barriers to trade; WTO Founded: 1 January 1995.

 

3. International Day of UN Peacekeepers: 29th May: International Day of UN Peacekeepers is observed globally on 29th May. The International Day of United Nations Peacekeepers offers a chance to honour around 4,200 peacekeepers who lost their lives serving under the UN flag since, including 135 who lost the battle last year. The theme for this year’s Day is “People. Peace. Progress. The Power of Partnerships.”

History of the day: The first UN peacekeeping mission was established on 1948, May 29 when the Security Council deployed a small number of UN military observers to the Middle East to form the United Nations Truce Supervision Organization (UNTSO) with the objective to monitor the Armistice Agreement between Israel and its Arab neighbours. Since 1948, more than 1 million people have served in the UN peacekeeping operations, which were 72 in number.

 

OTHER UPDATES:

 

SPORTS

 

1. ISSF Junior World Cup 2022: India won 33 medals: International Shooting Sport Federation (ISSF) Junior World Cup 2022 was held at Suhl in Germany. The Indian contingent was led by ace shooters Manu Bhaker and Saurabh Chaudhary. At the ISSF Junior World Cup 2022, the Indian junior shooting team came in first position overall. They won 33 medals in total, including 13 gold, 15 silver, and 5 bronze. With four gold medals, Italy came in second place. At the last edition of the ISSF Junior World Cup in 2021, India had 43 medals – 17 golds, 16 silvers and 10 bronze – to top the medals table.

India’s medal winners at ISSF Junior World Cup 2022:

 

	Gold			Silver
1	Simranpreet Kaur Brar and Vijayveer Sidhu – 25m rapid fire pistol mixed team		1	Anish-Tejaswani – 25m rapid fire pistol mixed team
2	Anish Bhanwala, Vijayveer Sidhu and Sameer – men’s 25m rapid fire pistol team		2	Pankaj Mukheja and Sift Kaur Samra – 50m rifle 3 positions mixed team
3	Manu Bhaker, Esha Singh and Rhythm Sangwan – women’s 25m pistol team		3	Shivam Dabas, Pankaj Mukheja, Avinash Yadav – men’s 50m rifle 3 positions team
4	Sift Kaur Samra – women’s 50m rifle 3 positions individual		4	Anish – men’s 25m rapid fire pistol individual
5	Rhythm Sangwan – women’s 25m pistol individual		5	Manu Bhaker – women’s 25m pistol individual
6	Rudrankksh Patil, Paarth Makhija and Umamahesh Maddineni – men’s air rifle team		6	Shivam Dabas – men’s 50m rifle 3 positions individual
7	Rudrankksh Patil – men’s 10m air rifle individual		7	Abhinav Shaw – men’s 10m air rifle individual
8	Shiva Narwal – men’s 10m air pistol individual		8	Ramita – women’s 10m air rifle individual
9	Palak – women’s 10m air pistol individual		9	Manu Bhaker – women’s 10m air pistol individual
10	Saurabh Chaudhary, Shiva Narwal and Sarabjot Singh – men’s air pistol team		10	Palak and Sarabjot Singh – 10m air pistol mixed team
11	Esha Singh-Saurabh Chaudhary – 10m air pistol mixed team		11	Ramita and Paarth Makhija – 10m air rifle mixed team
12	Manu Bhaker, Palak and Esha Singh – women’s 10m air pistol team		12	Sift Kaur Samra and Surya Pratap Singh – 50m Rifle Prone Mixed Team competition
13	Arya Borse, Zeena Khitta and Ramita – women’s air rifle team		13	Shardul Vihaan, Arya Vansh Tyagi and Vivaan Kapoor – men’s trap team
			14	Sarabjot Singh – 10m air pistol men individual
	Bronze		15	Preeti Rajak, Sabeera Haris and Bhavya Tripathi – women’s trap team
1	Parinaaz Dhaliwal, Darshna Rathore and Areeba Khan –  women’s skeet team
2	Vijayveer Sidhu – men’s 25m rapid fire pistol individual
3	Naamya Kapoor – women’s 25m pistol individual
4	Nischal, Ashi Chouksey, Samra Sift Kaur – women’s 50m rifle 3 positions team
5	Ashi Chouksey – 50m rifle 3 positions

 

BANKING AND FINANCE

 

1. RBI reduces net-worth requirement for non-bank Bharat Bill Payment units: The Reserve Bank of India (RBI) has eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth requirement to Rs 25 crore, with a view to encouraging more players in the segment. At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units). The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April. To increase participation, the RBI had decided to align the net worth requirement of non-bank BBPOUs with that of other nonbank participants who handle customer funds (like payment aggregators) and have a similar risk profile.

About the Bharat Bill Payment System (BBPS): Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extend to all categories of billers who raise recurring bills. Users of BBPS enjoy benefits like a standardised bill payment experience, a centralised customer grievance redressal mechanism and a prescribed customer convenience fee.

 

2. Fintech startup Mahagram partners with IndusInd Bank to nurture digital payments: Rural NEO Bank Mahagram has tied up with the IndusInd Bank to digitize the nation’s payment ecosystem and provide a wider scope to transact for its customers in rural India. Mahagram was launched with a vision to transform India into a digitally empowered society and knowledge economy. The partnership between the two aims to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy, and accelerate the growth of a cashless society.

This association will also ensure the building of an efficient, reliable, and secure payment ecosystem, which will not only promote and encourage the use of e-payments methods but will also help merchants across the country to accept digital payments easily, making it more accessible for everyone.

Note: IndusInd Bank Founded: 1994; IndusInd Bank Headquarters: Mumbai, Maharashtra; IndusInd Bank MD & CEO: Sumant Kathpalia; IndusInd Bank Tagline: We Make You Feel Richer.

 

BUSINESS AND ECONOMY

 

1. HDFC Securities launched Robo-advisory platform ‘HDFC Money’: HDFC Securities has launched “HDFC Money”, a Robo-advisory investment platform that will offer mutual fund schemes and other financial products without the need of a Demat account. Apart from mutual funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating e-Wills and managing or filing taxes.

The objective of ‘HDFC Money’: The basic objective of investing is to achieve a financial goal, which could be as simple as a holiday trip to a complex retirement planning or child education/marriage.” HDFC Money, backed by inputs from a highly experienced team, curates via Robo-advisory the best of the best mutual funds that exist in this exhaustive market as per the declared risk profile of the customer.

Features of ‘HDFC Money’:

a)      These eventually help the investor in navigating through their investment decisions. According to the company, HDFC Money will help investors to plan and execute with a more defined objective keeping risk and tenure in consideration.

b)      It starts with the customer identifying and specifying his/her goal and the expected outcome over a certain time frame with a defined risk appetite. The plan takes into consideration the mode of investment i.e. lump sum or staggered or a combination over the period to achieve the desired goal.

c)       The e-Will facility, which starts at Rs 1,500, will help in the creation of a Will for the distribution of wealth and other assets.

Note: HDFC Securities CEO: Dhiraj Relli (May 2015–); HDFC Securities Headquarters: Mumbai; HDFC Securities Founded: 2000.

 

2. According to SBI report, India’s GDP growth to be 8.2-8.5 percent in FY22: According to the State Bank of India‘s research paper Ecowrap, India’s Gross Domestic Product (GDP) growth in FY22 is predicted to be in the range of 8.2 to 8.5 percent. Uncertainties abound in Q4FY22 GDP estimates, as normal quarterly data adjustments are tough to fathom, but the research produced by SBI’s Economic Research Department predicts that it will meet the 3 to 3.5 percent mark.

Note: SBI’s Group Chief Economic Adviser: Soumya Kanti Ghosh

 

AWARDS AND HONOURS

 

1. Indian novel ‘Tomb of Sand’ wins International Booker Prize: Indian writer Geetanjali Shree and American translator Daisy Rockwell won the International Booker Prize for “Tomb of Sand,”. Originally written in Hindi, it’s the first book in any Indian language to win the high-profile award, which recognizes fiction from around the world that has been translated into English. The 50,000-pound ($63,000) prize money will be split between New Delhi-based Shree and Rockwell, who lives in Vermont. “Tomb of Sand” is published in Britain by a small publisher Tilted Axis Press. It was founded by translator Deborah Smith, who won the 2016 International Booker for translating Han Kang’s “The Vegetarian” to publish books from Asia.

The essence of the book: The book tells the story of an octogenarian widow who dares to cast off convention and confront the ghosts of her experiences during the subcontinent’s tumultuous 1947 partition into India and Pakistan. Shree’s book beat five other finalists including Polish Nobel literature laureate Olga Tokarczuk, Claudia Piñeiro of Argentina and South Korean author Bora Chung to be awarded the prize at a ceremony in London.

 

2. French Riviera Film Festival: Nawazuddin Siddiqui honoured with Excellence in Cinema award: Bollywood actor, Nawazuddin Siddiqui has been honoured with an international award for his contribution to cinema. At the prestigious French Riviera Film Festival, Emmy award-winning American actor Vincent De Paul bestowed the honour to Siddiqui. This is not the first time that Nawazuddin has brought accolades back home. Previously, the actor was chosen as one of the delegates to receive awards on behalf of the nation at the Cannes Film Festival.

Siddiqui’s illustrious career boasts of some terrific films, including Gangs of Wasseypur, Raman Raghav 2.0, The Lunchbox, and Munto. He is the only actor in the world to have eight films officially selected and screened at the Cannes Film Festival. Along with films, he also appeared in web series like Sacred Games and Mc Mafia.